Ames National (NASDAQ:ATLO) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

Ames National Corporation (NASDAQ:ATLO)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $29.10 and traded as low as $28.65. Ames National shares last traded at $29.07, with a volume of 42,933 shares trading hands.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ATLO shares. National Bank Financial set a $31.00 target price on shares of Ames National in a research note on Wednesday, April 15th. Zacks Research upgraded Ames National to a “hold” rating in a research report on Thursday, April 16th. Brean Capital raised Ames National to a “hold” rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Ames National in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Ames National has a consensus rating of “Hold” and a consensus target price of $31.00.

Ames National Price Performance

The business’s 50 day simple moving average is $29.10 and its 200-day simple moving average is $27.28. The stock has a market capitalization of $257.56 million, a P/E ratio of 12.01 and a beta of 0.30.

Ames National (NASDAQ:ATLO) last issued its earnings results on Friday, April 24th. The financial services provider reported $0.67 EPS for the quarter. The company had revenue of $18.22 million during the quarter. Ames National had a net margin of 21.63% and a return on equity of 10.65%. Research analysts anticipate that Ames National Corporation will post 2.7 earnings per share for the current fiscal year.

Ames National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a dividend of $0.24 per share. The ex-dividend date was Monday, June 1st. This represents a $0.96 dividend on an annualized basis and a yield of 3.3%. Ames National’s dividend payout ratio (DPR) is 39.67%.

Institutional Investors Weigh In On Ames National

Several large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its holdings in Ames National by 67.6% in the second quarter. Russell Investments Group Ltd. now owns 1,379 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 556 shares during the period. Royal Bank of Canada grew its holdings in shares of Ames National by 210.2% in the 4th quarter. Royal Bank of Canada now owns 1,548 shares of the financial services provider’s stock valued at $36,000 after buying an additional 1,049 shares during the period. BNP Paribas Financial Markets increased its position in shares of Ames National by 148.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,175 shares of the financial services provider’s stock valued at $44,000 after buying an additional 1,299 shares in the last quarter. Deutsche Bank AG increased its position in shares of Ames National by 42.3% in the 4th quarter. Deutsche Bank AG now owns 6,348 shares of the financial services provider’s stock valued at $146,000 after buying an additional 1,886 shares in the last quarter. Finally, Larry Mathis Financial Planning LLC acquired a new stake in Ames National during the 1st quarter worth $238,000. Institutional investors own 26.47% of the company’s stock.

About Ames National

Ames National Corporation is the bank holding company for Ames National Bank, a full-service community bank headquartered in Ames, Iowa. Through its subsidiary, the company provides a range of commercial and consumer banking products designed to meet the needs of individuals, small businesses, farmers and agribusiness clients in central Iowa. Its network of branch offices serves Story County and neighboring counties, supporting local economic development and community initiatives.

The company’s core offerings include checking and savings accounts, money market and certificate of deposit products, along with online and mobile banking services.